Can Bitcoin Replace Gold Soon?

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Leading cryptocurrency Bitcoin and physical gold have been seen by many experts as similar assets for years. The low rate of inflation and limited supply of both are known as the main starting point of these analogies.

Bitcoin Starts to Replace Gold
With the advent of the coronavirus crisis, demand for both Bitcoin and gold increased, unfortunately one of them remained in the classroom. The fact that the supply chain came to a halt while people showed incredible demand for physical gold, and the lack of commercial flights made it impossible to send the excavated gold to customers.

This led to a major gold crisis, and it is known that this crisis is still unsolved. On the other hand, Bitcoin managed to recover to a short time after its fall on March 12. This reveals that the demand for BTC has achieved a serious increase. The biggest advantage is that Bitcoin does not have restrictions like physical gold and can be sent from one end of the world to the other within hours.

In addition, the fact that Bitcoin has a completely transparent infrastructure may also attract gold investors. The transformation of institutional investors such as Paul Tudor Jones that they will invest in Bitcoin shows that the conversion process has already begun.

However, it is clear that gold, which has a total market value of over $ 7 trillion, is far ahead of Bitcoin. This shows that it takes years to complete the transformation.

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